Evaluates the launch of the new Fantom’s Vault and its effects on the FTM

  • Fantom launched one The ecosystem vault on Jan. 20.
  • FTM has seen increased demand since the beginning of the year.

a ghost [FTM]The open source smart contract platform for digital assets and digital applications has announced the launch of ecosystem vault On January 20th.

Ecosystem Vault will fund projects built on the Fantom blockchain. According to the press release

“The Vault is a new fund that aims to empower Fantom builders by offering a decentralized way to fund projects, ideas, and creations through a community-led decision-making process.”

Is your wallet green? Check out Phantom Profit Calculator

Ecosystem Vault was launched on a proposal to do the same, which was voted on and passed in July 2022. It is a community-controlled fund that is funded by forwarding 10% of transaction fees from Fantom to the vault by reducing the FTM token burn rate.

Phantom 2023 case

for each data from Dune analytics8.58 million transactions have been completed on the Fantom Network in the last 20 days. However, towards the end of January, it remains to be seen if the number of network transactions for the month will be lower than the 16.36 million transactions recorded in December.

For context, the number of monthly transactions on Fantom has been dropping steadily since July 2022. Since then, it’s down 68%.

Source: Dune Analytics

Moreover, on January 2, the number of active users and new users saw a significant increase, the data from Dune Analytics showed. Since then, this has also decreased. On January 20, 4,900 new addresses were created in the network with 51,490 active addresses per day.

Source: Dune Analytics

Realistic or not, here’s the FTM’s market cap in terms of BTC

FTM does not go alone

With the bullish rally in the general crypto market over the past month, the FTM price has increased by 70%, according to data from CoinMarketCap show up. At the time of writing, the altcoin is trading at $0.3462.

A recent on-chain data assessment revealed that the FTM token has seen an increase in network activity over the past 30 days. According to the data, the daily number of active wallets trading the token increased by 132%.

Similarly, the FTM coin saw an increase in demand during the period under review. This is evidenced by the significant increase in the number of new addresses being created on the FTM network per day, which has increased by 80%.

This is a positive sign for the Fantom community, as it indicates that more people have purchased and used its original token.

Source: feeling

Leave a Reply

Your email address will not be published. Required fields are marked *